Emerson Electric Company (NYSE:EMR) was upgraded by investment analysts at Bank of America Corporation from a “neutral” rating to a “buy” rating in a research note issued on Tuesday, October 17th, MarketBeat Ratings reports. The brokerage currently has a $79.00 price target on the industrial products company’s stock, up from their previous price target of $64.44. Bank of America Corporation’s target price suggests a potential upside of 22.29% from the stock’s previous close.
A number of other brokerages have also commented on EMR. Royal Bank Of Canada restated a “sector perform” rating and set a $62.00 price objective (up from $61.00) on shares of Emerson Electric in a report on Wednesday, August 2nd. Berenberg Bank reiterated a “sell” rating and issued a $53.00 price target on shares of Emerson Electric in a research note on Friday, August 11th. JMP Securities initiated coverage on shares of Emerson Electric in a research note on Monday, June 19th. They issued an “outperform” rating and a $70.00 price target on the stock. Morgan Stanley reiterated an “overweight” rating on shares of Emerson Electric in a research note on Tuesday, July 11th. Finally, BidaskClub lowered shares of Emerson Electric from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. Four research analysts have rated the stock with a sell rating, ten have issued a hold rating and four have given a buy rating to the company’s stock. Emerson Electric presently has a consensus rating of “Hold” and a consensus target price of $62.86.
Shares of Emerson Electric (EMR) traded up $0.50 during trading hours on Tuesday, hitting $64.60. 887,913 shares of the company were exchanged, compared to its average volume of 3,165,362. Emerson Electric has a fifty-two week low of $49.38 and a fifty-two week high of $67.79. The company has a current ratio of 1.59, a quick ratio of 1.24 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $41,025.25, a price-to-earnings ratio of 23.65, a price-to-earnings-growth ratio of 2.91 and a beta of 1.24.
Emerson Electric (NYSE:EMR) last issued its quarterly earnings data on Tuesday, November 7th. The industrial products company reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.79 by $0.04. Emerson Electric had a net margin of 8.89% and a return on equity of 22.32%. equities analysts predict that Emerson Electric will post 2.64 earnings per share for the current year.
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In related news, insider Robert T. Sharp sold 2,000 shares of Emerson Electric stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $58.99, for a total transaction of $117,980.00. Following the completion of the sale, the insider now owns 64,290 shares of the company’s stock, valued at approximately $3,792,467.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.79% of the company’s stock.
Several hedge funds have recently made changes to their positions in EMR. Captrust Financial Advisors bought a new stake in shares of Emerson Electric during the 2nd quarter worth about $177,119,000. Vanguard Group Inc. boosted its holdings in shares of Emerson Electric by 5.8% during the 1st quarter. Vanguard Group Inc. now owns 43,698,252 shares of the industrial products company’s stock worth $2,615,777,000 after buying an additional 2,404,844 shares during the period. Prudential Financial Inc. boosted its holdings in shares of Emerson Electric by 135.9% during the 1st quarter. Prudential Financial Inc. now owns 2,963,124 shares of the industrial products company’s stock worth $177,372,000 after buying an additional 1,706,810 shares during the period. Pictet Asset Management Ltd. boosted its holdings in shares of Emerson Electric by 217.1% during the 2nd quarter. Pictet Asset Management Ltd. now owns 2,460,762 shares of the industrial products company’s stock worth $145,480,000 after buying an additional 1,684,786 shares during the period. Finally, Longview Partners Guernsey LTD boosted its holdings in shares of Emerson Electric by 9.0% during the 3rd quarter. Longview Partners Guernsey LTD now owns 13,758,325 shares of the industrial products company’s stock worth $864,573,000 after buying an additional 1,134,275 shares during the period. 70.14% of the stock is owned by institutional investors and hedge funds.
About Emerson Electric
Emerson Electric Co is a diversified global manufacturing company, which provides solutions to customers by bringing technology and engineering together in the industrial, commercial and consumer markets around the world. The Company operates through four segments based on the nature of the products and services rendered: Process Management, Industrial Automation, Climate Technologies and Commercial & Residential Solutions.
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